The Lagos Chamber of Commerce and Industry has elected Gabriel Idahosa as LCCI president and chair.

Chinyere Almona, the LCCI director-general, announced this during the organisation’s 135th annual general meeting (AGM) on Thursday in Lagos.

Mr Idahosa’s appointment followed the expiration of the tenure (which started in 2021) of Michael Olawale-Cole.

Ms Almona described the new LCCI president as a distinguished individual with a remarkable track record of leadership, dedication, and commitment to the growth and development of various organisations, particularly in professional services, trade promotion, and industry.

She said in the last two years, Mr Idahosa served commendably as LCCI’s deputy president. Ms Almona noted that his emergence as LCCI president was in recognition of his contribution and commitment to the ideals of the chamber’s movement, its public policy advocacy, and the protection of the interests of the Nigerian business community.

“Indeed, we are very pleased as Mr Gabriel Idahosa assumes the role of president of the LCCI. “As a council member and a key officer of the chamber, he has brought his extensive knowledge and experience to bear and has provided quality perspectives to deliberations at the chamber.

“We are confident that his presidency will enhance the Chamber’s role as a leading advocate of best business policy and practice to promote and protect the interest of its members and the business community at large,” said Ms Almona.

The LCCI director-general revealed that the chamber recorded N646.95 million as revenue for 2023, against N503.87 million for 2022, translating to an increase of 28.4 per cent.

The outgoing president, Mr Olawale-Cole, urged the government to provide much-needed support to enhance the successful take-off of the Dangote Refinery.

He stated this would reduce the importation of refined oil products, address the current pressure on foreign exchange and ensure that the money invested in the refinery building does not go to waste.

Mr Olawale-Cole noted that developments in the global and domestic scene significantly impacted world economies, Nigeria inclusive, even as the country continued to battle record-high inflation rates, high energy costs, and supply chain disruptions.

He said the business environment witnessed some developments that enabled it or made it more challenging. He noted that the Nigerian economy continued to recover and maintain a positive growth trend in 2023 at a slow pace.

Mr Olawale-Cole said LCCI, as the leading advocacy voice of the organised private sector, had remained resolute in promoting investment-friendly policies that support private sector development.

(NAN)